This commitment was expressed on Thursday in Abuja during a meeting with the Coca-Cola Company's global leadership team, which included Mr. John Murphy, the president and chief financial officer, along with Ambassador Segun Apata, Chairman of the Nigerian Bottling Company.
The occasion coincided with Coca-Cola's announcement of a $1 billion investment plan in Nigeria over the next five years. President Tinubu praised Coca-Cola for its enduring partnership with Nigeria and its role in creating investment opportunities that have generated employment for over 3,000 individuals across nine production sites.
“We are business-friendly, and as I said at my inauguration,
we must create an environment of easy-in and easy-out for businesses.
”We are building a financial system where you can invest,
re-invest, and repatriate all your dividends. I have a firm belief in that,” he
said.
President Tinubu emphasized to the delegation the critical
role of private sector partnerships in sustaining investments and driving
comprehensive reforms to enhance the business environment.
He reaffirmed the government’s commitment to ongoing
collaboration with Coca-Cola to expand investments in Nigeria and proactively
address environmental concerns, including climate change.
”The size of this country is enormous in Africa, and the
consumption capacity of Nigeria is expanding daily,” President Tinubu added
while commending the company for scaling up its skill development and community
initiatives as part of its corporate social responsibility.
The company has experienced substantial growth over an
extended period, serving approximately 300,000 customers and generating nearly
N90 billion in revenue for the Nigerian government annually. We take great
pride in the positive impact our business has had on the daily lives of our
customers.
”We are very proud of the growth of the business over a long
period and its impact on the daily lives of many Nigerians.
”Beyond the financial impacts, we are also very committed to
supporting the communities, and over the last number of years, we’ve had a
special focus on several areas in the world of sustainability, water packaging
and others, ” he said.
Mr. Zoran Bogdanovic, the Chief Executive Officer of
Coca-Cola Hellenic Bottling Company, elucidated that the company’s unwavering
trust in the Nigerian government’s policies had served as a catalyst for their
substantial investment commitment of $1 billion.
”Mr President, in your inaugural address, we were very
pleased to hear of your invitation for foreign investors to invest and your
assurance that foreign businesses can repatriate dividends and profits.
”That assurance gives us the confidence to continue our
investments. Since 2013, we have invested $ 1.5 billion in Nigeria in capacity
expansion, transformation of our supply chain infrastructure capabilities,
training and development.
”I am very pleased to announce that, with a predictable and
enabling environment in place, we plan to invest an additional $1 billion over
the next five years.
”We believe Nigeria’s potential is tremendous, and we are
committed to working with the government to realise this potential,” he said.